Financial Aid & Scholarships

Student Loan Solutions from the Department of Education

Student Loan Solutions from the Department of Education

With $1.3 trillion in student debt and rising, the Department of Education over the last eight years has created a set of Income Driven Repayment programs to help borrowers reduce monthly payments, and even, depending on circumstances, have the loan forgiven in 10, 20, or 25 years. 

The College Shopping Sheet and the Needed Transparency of Financial Aid

As admissions into colleges and universities has become ever more challenging,  applying for financial aid  and understanding the financial aid letter once received, is  an equally grueling, though often neglected, piece of the admissions process.

Borrowing for College

“Neither a borrower nor a lender be;
For loan oft loses both itself and friend,
And borrowing dulls the edge of husbandry”-Polonius, Hamlet I, iii

To pay for college, most students have to borrow. In 2012, the average student graduated with over $26,000 of debt. That would buy a 2014 Subaru Forester sport utility 2.5i and still leave enough money to tour the Rockies for a month. All told, total college debt amounts to over a trillion dollars, and it is relentlessly rising.

College borrowing outstrips credit card debt, and as this mountain of debt accumulates, one in five households now carry student debt, so rises the default rate. According to Bloomberg Business Week (September 29th, 2012) 11% of public school and 7.5% of private students are defaulting on their student loans. This is a scary proposition because most student loans are difficult to discharge, even in bankruptcy.

Obviously the best course is to avoid loans altogether. If you haven’t dived into the admissions process yet, keep in mind that it’s worth your while to find colleges which are affordable. One affordability litmus test is to first estimate your effective family contribution (EFC) to get a sense of what colleges are expecting you to pay. The College Board has an online calculator where you can do this, https://bigfuture.collegeboard.org/pay-for-college/paying-your-share/expected-family-contribution-calculator#efc_status.

Then go to each of your college’s financial aid sites, find its ‘net price calculator,’ and use it to calculate your cost of attendance (subtracting potential aid awards). If your EFC is less than your COA, you qualify for need based financial aid; however, this doesn’t guarantee you’re going to get any.

If, academically, you find yourself in the 75th percentile of an entering college class (in terms of GPA and test scores), most colleges are going to figure out a way to get you to enroll—that’s when their wallets open. A strong academic track record is your best means for getting subsidized. If you’re a borderline applicant, they might not offer much. 

Then the landscape of loans must be surveyed and considered. The best loans are federal student loans. Stafford direct subsidized loans (which are usually reserved for students from low income families) are at interest rates well below commercial banking rates. Better still the government pays interest on the loan while the student is enrolled. Loan repayments do not begin until 6 months after graduation. A student, however, over four years can borrow only $31,000 through this source.

There are unsubsidized Stafford loans in which repayment begins when the loan is disbursed, federal direct loans, and Federal Plus loans, which currently have interest rate at 7.9% and a 4% fee depending on the amount of the loan.

Federal Plus loans (aka Parent Plus Loans) can cover up to the total cost of attendance (COA) at an institution. These should be compared to home equity loans (in which you will be able to deduct interest charges.) Additionally, if you’re looking among commercial loans, take the time to apply for multiple loans through a site such as Alltuition.com. or Finaid.org. The key, as in most ventures in life, is to create as many options as possible. With borrowing money this is even more important because various terms, interest rates, and fees can affect the total price of the loan by thousands of dollars.  

Be aware that many colleges have merit-based scholarships. Often, once your application is accepted, the school will let you know about opportunities, but just as often, they won’t. One place to uncover potential merit aid is at www.meritaid.com. For example, at University of Pacific in Stockton, Meritaid.com lists 32 scholarships. This could defray some of the loan burdens.

As with any effort, the more knowledge you have about your financial aid situation, and the alternative need-based and merit-based grants and scholarships, and the array of loans, and their pitfalls, the better you will negotiate the college financial aid process. Always question college financial aid offices about anything you don’t understand. Furthermore, if something is proposed that doesn’t make intuitive sense, seek an expert—and a number of them can be discovered online. Learn the ropes so that you’re not left hanging with an exorbitant, onerous load of debt upon graduation.

Gaining the Best Financial Aid Packages

 

  • Don’t Get Intimidated by the Process
  • File FAFSA right after January 1st
  • CSS Profile Requirements
  • Strategies to Lower EFC
  • Useful websites to lower EFC

Financial aid is confusing. It’s even worse than income taxes. According to the American Council on Education, in 2006, 1.8 million students who would have qualified for federal and financial aid failed to apply. There is no reason to be among that number.

The fundamental precept of financial aid is filing the FAFSA as soon after January 1st of senior year as possible. The whole idea is to be at the front of the line when scholarships and grants are being allocated. At most of the public schools, including the University of California system, only filing the FAFSA is required. This vastly simplifies the process. Filing solely by the federal method (FM) makes applying to state schools almost a pleasure.

For private schools the process is often trickier. Many use, along with FAFSA, the CollegeBoard’s CSS Profile. Certain private schools even include their own financial aid form. This means some private schools require three financial aid forms; worse, all might be cross referenced to ensure responses jive. Inaccurate submissions might be rejected, and, as a consequence, though financial aid forms were initially filed prior to deadlines, the application might be shot to the back of the line.     

Northwestern’s undergraduate financial aid website, www.ug-finaid.northwestern.edu, contains a financial aid calculator to estimate financial aid packages, and links to the FAFSA, CSS Profile, and Northwestern’s University Aid Application. There are also over a dozen other forms including, if things didn’t work out, the financial aid appeal application. It’s a world onto itself with deadlines, glossaries, and forms that would almost make the IRS proud.

Don’t however be distracted by the forms, the deadlines, and the calculator. The central purposes of the financial aid exercises are to attain as low an EFC (effective family contribution) number as possible, and to fill the gap between what you can afford to pay and your EFC with generous scholarships and grants. Anything else is noise.  

The CSS PROFILE (also called the institutional method—IM) includes in its calculations the applicant’s home equity, non-custodial parent’s income and resources, outside scholarships, money held by other siblings, the applicant’s potential summer earnings, even whether a rich relative might be willing to throw bags of gold at the entire admissions process (if an applicant is willing to volunteer such information). The PROFILE wants to know everything about the past, present, and future of an applicant’s resources. However, it’s not completely cold blooded; if another sibling is paying private school tuition, or the family had excessive medical expenses not covered by insurance, these might be deductible.

Whether you’re applying to a school that is using CSS Profile (IM), or the FAFSA (FM), you might try the following strategies. Each is labeled by whether the strategy is appropriate for the FM or IM:

  1. Use assets to pay off debt: having debt does not help you qualify for aid, so pay it off (IM) or (FM)
  2. Move assets from student to parent account: Parents are expected to pay 5.6% of assets while students 20% (FM)
  3. Make necessary large purchases before base year (the base year is a student’s junior year beginning in January) (FM) or (IM)
  4. Reduce Base Pay in your job or delay any commissions during the base year (FM) or (IM)
  5. Avoid capital gains: selling major stock holdings during the base year will increase your revenues—something you want to avoid  (FM) or (IM)
  6. Start a Home business: you can cut your current pay and reduce personal assets by investing in a home business  (FM) or (IM)
  7. Pay off your mortgage: if the school uses FM you will qualify for more aid should you pay down your mortgage. (FM)

Websites that might be useful in helping to qualify for the greatest amount of aid include TuitionCoach and FinAid.org. What really matters in the process is staying focused on getting the lowest EFC and the most scholarship and grant monies available. A good reference for estimating what the school has paid in the past can be found at College Navigator. Future tuition bills, though, can very much be affected by your actions now.

재정보조 포장하기

  • 절차에 눌리지 말자
  • FAFSA 파일은 1월 1일 이후 바로 하자
  • CSS 프로파일 요건
  • EFC 최저 전략짜기
  • EFC를 낮추기 위한 유용한 웹싸이트

재정보조는 복잡하다.  세금보고보다도 힘들다.  2006년 교육부의 보고에 따르면, 1.8 million의 학생들이 연방정부 장학금을 받을 수 있는데도 신청하지 않았다.  이 숫자에 낄 필요는 없다.

재정보조를 시작하는 시기는 12학년 1월1일부터 시작되는 FAFSA를 작성하는 것이다.  일찍 할수록, 장학금과 그랜트 보조에 있어서 우선권이 주어진다.  University of California를 비롯한 대부분의 공립대학은 FAFSA만 요구한다.  이런 경우에는 아주 단순하다.  주정부용 FA (federal method)만 하기 때문에 너무 쉽다.

사립대학은 약간 복잡하다.  많은 대학들이 FAFSA와 College Board의 CSS 프로파일을 원한다.  어떤 대학은 자체 원서도 있다.  이럴 경우 세가지 양식이 되며, 또한 이 세 가지에서 내용이 일치해야 한다.  서로 맞지 않을 경우, 거부될 수도 있으며, 다시 원서를 준비하다 보면, 마감일을 넘기거나 서류가 맨 뒤로 밀려나게 된다.

Northwestern의 재정에 관한 웹싸이트 (ug-finaid.northwestern.edu)에는 FAFSA, CSS Profile, Northwestern University Aid 원서양식과 함께 재정 계산페이지가 있다.  또한 재정보조가 충분치 않을 경우에 탄원을 신청하는 양식도 있다.  마감일, 용어해설, 양식들 모두가 들어 있다.

그러나 이런 모든 서류와 계산 양식, 마감일에 눌리기 말길 바란다.  주 목적은 EFC(가족 공헌)를 낮게 잘 계산하는 것으로 전체 들어갈 비용에서 최저의 EFC를 계산하고 가능한 많은 장학금/그랜트를 받는 것이다.  기타 사항은 무시해도 된다.

CSS Profile (교육기관의 방법: IM)은 응시자의 집의 가치, 부모의 수입과 재산, 외부 장학금, 형제에게 들어갈 돈, 응시자가 벌 수 있는 금액 (응시자가 알리기 원한다면), 혹은 부자 친척이 기부할 수 있는 지 등을 알고자 한다.  이 프로파일은 응시자의 과거, 현재, 미래까지 재정에 대해 알고자 한다.  그렇다고 인정없이 계산하는 것은 아니다.  형제가 사립학교에 재학한다든가, 가족 중 환자가 있어서 치료비용이 많이 지출된다든지 하는 것은 제외된다.

여러분이 CSS Profile (IM)이나, FAFSA (FM)을 사용할 때, 다음의 전략을 따르길 바란다.  각 사항이 IM 혹은 FM 양식 작성시 유용하다.

  1. 자산은 빚을 갚는데 쓴다: 빚이 있을 때는 다시 재정 보조를 받기 어렵다 (IM or FM)
  2. 학생이 자산이 있다면, 부모에게 옮긴다: 부모는 자산의 5.6%를 내야 하지만, 학생은 23%를 내야한다 (FM).
  3. 기본이 되는 해에 큰 지출을 미리하라: 기본이 되는 해는 학생의 고교 3학년 때이다 (FM or IM).
  4. 직장의 기본 월급이나 커미션을 기본이 되는 해에는 될수록 미루어라 (FM or IM).
  5. 큰 수입을 미루어라: 기본이 되는 해에는 주식을 팔아서 수입을 늘릴 필요가 없다 (FM or IM).
  6. 홈 비즈니스를 시작하라: 홈 비즈니스에 투자를 하므로 수입과 자산을 줄일 수 있다(FM or IM).
  7. 집 저당금을 갚아라: FM에서는 이 금액으로 인해 더 많은 보조를 받을 수 있다 (FM).

유용한 웹싸이트로 TuitionCoach and FinAid.org가 있다.  이 과정에서 중요한 것은 EFC를 낮게 계산하는 것과 많은 장학금, 그랜트를 받는 것이다.  CollegeNavigator에서 어떤 학교들이 많이 보조해 주었는지를 알아볼 수 있다.  그러므로 곧 내야 할 등록금의 돈의 액수가 여러분이 지금 얼마나 열심히 노력하느냐에 따라 적어질 수 있다

Financial Aid for the International Student

 

  • 6 Elite Schools have need-blind financial aid
  • Limited Financial Aid Available
  • History of funding at www.internationalstudent.com
  • Know the website of schools well
  • File CSS Profile or ISFAA
  • Submit Certification of Finances

Six schools, including Harvard, Yale, Princeton, Dartmouth, Amherst, and MIT are all ‘need blind’ and ‘full need’ regardless of a student’s country of origin. This means that if accepted, international students will obtain the necessary financial aid to attend. Be aware, however, that though these schools advertise themselves as being “need-blind,” which technically means that financial circumstances are not considered in the admissions process, how this might actually translate into the reality of admissions warrants consideration. Specifically, in the state of Connecticut, Yale has 478 international students, of whom, 77 (about 16%) were awarded an average aid package of $31,000; compare this with Connecticut College (56 of 209, (or 27%) of its international students, were awarded an average aid packages of $38,000); and Wesleyan (49 of 143 (34%) awarded an average package of $41,751), and it becomes difficult to discern which institutions are actually ‘need blind’ and ‘full need’ and which are practicing.   

Obviously, gaining admittance to a school with a large endowment, and, for the most part the most selective schools in the country are well endowed, improves the chances for an international student’s gaining financial aid. For example, Stanford, with an endowment of $16.5 billion, and with 885 international undergraduate students, awarded 203, on average, $29,000 in financial aid last year. What’s difficult about figuring out the international financial aid puzzle is each college sets its own policies. As you’d expect, there are not a lot (almost no) government funds available for international students. Be almost assured that, if you gain acceptance into University of California at Berkeley, for example, it will be charging you full tuition, room and board; that’s the reason Berkeley has allocated an ever larger portion of its admits to ‘out-of-state’ (including international students); it wants to garner full tuition revenues to offset dwindling state funding. Discovering the best opportunities for aid are a function of investigation, application, and luck.

To get a sense of what financial aid might be available to international students, go to www.internationalstudent.com  and click on “Schools Awarding Financial Aid.” You’ll encounter some very interesting information. I viewed the international financial aid awards in Massachusetts. Obviously, Amherst and Harvard, with their need-blind programs, award a lion’s share of the aid, but, not far behind them, in Massachusetts, are Williams, awarding 89 of 140 international students average packages of $37,000; Wellesley with 68 of 184, $37,000; Clark, 103 of 166, $21,000; and Smith College, 120 of 200, $30,000. These schools might be very good places to apply for international students needing financial aid. One surprise was Tufts, which has pretensions of being ‘almost ivy.’ Of its 384 international students, 10 received financial aid, which amounted to slightly less than $20,000 each.

What is crucial is that international students gain an understanding of all the financial aid requirements at each campus of interest. That requires reviewing thoroughly each school’s website to discover financial aid eligibility and deadlines. Keep in mind, even with financial aid awards, all international students will need to submit a Certification of Finances, proof that you have the financial resources to pay should you gain admittance. Additionally, all the private schools to which you’re applying, will require either a CSS Profile, or the ISFAA (International Student Financial Aid Application) to determine your effective family contribution (EFC). The earlier you submit all of these materials to the admissions or financial aid offices, the better.

There are a lot of colleges within the borders of the United States. Most applicants clump their applications among a select 80-120 (the ones that accept fewer than 50% of the applicants who apply). If you peer beyond the well-worn paths you’re liable to find some interesting matches that might be well worth the search and effort. Financial Aid does exist at many schools for international students; you just need to supply the effort and tenacity to find it. Do so. And as Winston Churchill said: “Never, never, never quit.”

 

외국인 학생을 위한 재정보조

  • 여섯 명문대의 무조건적 재정보조
  • 대부분 제한적인 재정보조
  • 자료찾기: www.internationalstudent.com
  • 지원대학의 웹싸이트이용
  • CSS Profile, ISFAA, Certification of Finances 필요한 서류 제출할

Harvard, Yale, Princeton, Dartmouth, Amherst, MIT-이 여섯 대학들은 학생의 나라 출신과 상관없이 필요에 따른 재정 보조를 준다.  즉, 일단 합격이 되면, 외국인 학생도 필요한 재정보조를 받을 수 있다.  한편, 이 대학들이 광고하는 “need-blind”란 재정 상황을 입학심사에서 고려하지 않는다는 뜻이지만, 실제 입학심사에서의 영향은 알 수 없다.  특히, 커네티컷에 있는 예일대는 478명의 외국인 학생이 있는데, 그 중 77명(16%)은 평균 $31,000을 받았다; Connecticut College에서는 209명 중 56명(27%); Wesleyan은 (143명 중 49명, 34%) 평균 $41,751을 받았다.  그래서 어떤 대학이 실제로 ‘need blind,’ ‘full need’를 실천하는지 구별이 어렵다.

분명, 많은 기부금이 있는 대학, 명문대학이 재정이 풍부하며, 외국인 학생이 제정보조를 받을 기회가 높다.  예를 들면, Stanford는 기부금이 $16.5 billion인데, 885명의 학부생 중 203명이 평균 $29,000을 작년에 받았다.  외국인 학생에 대한 재정 보조는 각 대학의 정책에 따라 달라서 퍼즐처럼 한마디로 말하기가 어렵다.  한편, University of California at Berkeley에 외국인이 들어간다면, 등록금, 기숙사비 모두를 내야 한다; Berkeley는 ‘out-of-state’ (주민외, 외국인 포함)학생을 많이 뽑으려 한다.  그래서 주정부의 줄어드는 펀드를 매꾸려 하고 있다.  그러므로 재정보조의 기회를 잡는 것은 조사, 응시, 그리고 행운이다.

외국인 학생에게 가능한 재정보조를 찾으려면,www.internationalstudent.com        에 가서 “Schools Awarding financial Aid”를 클릭하면 된다.  아마 흥미있는 자료를 만날 것이다.  필자는 Massachusetts를 찾아 보았다.  Amherst, Harvard는 ‘need-blind’ 프로그램이므로 거대한 몫이 주어지며, 또한 Williams는 140명의 외국인 학생 중 89명에게 평균 $37,000을 수여하였고, Wellesley는 184명 중 68명에게 $37,000; Clark는 166명중 103명에게 $21,000; Smith College는 200명 중 120명에게 $30,000을 수여하였다.  이 대학들은 외국인 학생들이 응시하여 많은 장학금을 받을 수 있는 곳이다.  또한 놀라운 것은 Tufts인데, 거의 아이비 수준이지만, 384명의 외국인 학생 중 10명만이 겨우 평균 $20,000을 받았다.

중요한 것은 캠퍼스마다 다르다는 것이다.  그래서 대학 웹싸이트에서 정보를 찾아 재정보조의 자격과 마감일을 잘 챙겨야 한다.  또한 기억할 것은 모든 외국인 학생들은 입학 후 재정을 보조할 수 있다는 Certification of Finances를 작성해야 한다.  또한 사립대학을 지원한다면, CSS Profile이나 ISFAA (International Student Financial Aid Application)을 작성하고 EFC (가족 부담금)을 결정해야 한다.  재정상담실에 서류를 일찍 제출할수록 유리하다.

많은 대학들이 미국내 있다.  그러나, 대부분의 원서들은 우수 80-120 순위 대학들(대부분 응시자의 50%이하를 수락한다)에 쌓인다.  여러분이 쉽게 갈 수 있는 길이 아닌 대학을 찾고자 한다면, 서치와 노력을 해야 한다.  많은 대학들의 재정보조가 외국인에게 열려있는 것은 아니다; 그렇지만 노력을 들이고 찾으려고 애를 써야 한다.  반드시 해라.  윈스톤 처칠은 “절대로, 절대로 절대 포기하지 말라”라고 하지 않았던가!

The ROTC (Reserved Officers Training Corps) Scholarship

  • Making Colleges such as USC more Affordable
  • Dickinson College’s ROTC program
  • How to gain a ROTC Scholarship

With tuition costs rising beyond the $40,000 a year level at such places as USC, many college-bound students are ardently searching for scholarships, grants, and work study programs. Some are avoiding the escalating costs altogether by gaining admission to the service academies (West Point, Annapolis, Air Force), where tuition, room and board, and medical are covered. More on gaining admissions to the service academies can be found at:  /imported-20110121194859/2008/9/2/attending-us-service-academies.html. The service academies, however, are not for everyone, particularly if you’re not engineering or mathematically inclined. Another alternative is to apply for a ROTC scholarship, which can be used at a range of schools nationwide, and, in conjunction with many different majors (including a number of liberal arts majors).

In fact, the military is actively recruiting students who major in foreign languages, area studies, and history—traditionally within the liberal arts world. One such student, who graduated from Dickinson College’s ROTC program with a major in Middle Eastern Studies and with a facility in Arabic, was stationed in Kandahar province in Afghanistan. Interestingly, his recitation of the Koran to a group of tribesmen led to his troop’s success in rooting out the local Taliban. Consequently, the military understands the value of liberal arts majors. It wants and needs officers who are ‘critical thinkers’.

You don’t, of course, have to be attending a most selective school in order to gain a ROTC scholarship. Your first task is to determine which branch of the military you’re interested in. Then, you might begin your search in your high school career counseling center, or on-line (if you’re planning on an Army ROTC program go to the following link, http://www.goarmy.com/rotc/find-schools.html). Even if the school you’re planning to attend doesn’t have a ROTC program, probably a school near it does; in the case of Yale, for example, four Yale students currently participate through the University of Connecticut.  As mentioned, you are likely to find the name of your recruiter in your high school’s career counseling office. Then:

  • Do well on your SAT or ACT, as that will factor into your scholarship potential
  • If you have a junior ROTC unit at your high school, join it. Troy HS does, and a number of its graduates go on to ROTC programs in college
  • Stay physically fit (Certainly be able to do 50 sit ups and 12 pull ups, and run at least 3 times a week)
  • Get good grades in a rigorous curriculum in high school. More importantly, learn good study habits.
  • Obviously, you don’t want your record blemished by any connection with illegal substances, including alcohol, as that would be an immediate disqualifier.

What are your commitments to the armed forces should you enroll in ROTC? Unlike when you enter one of the service academies (such as West Point), your entry into ROTC is not equivalent to ‘enlisting’. Your service commitment depends on your participation within the ROTC. For example, the Army ROTC program offers 2-, 3-, and 4-year scholarships, which can pay for full tuition (or room and board), fees, books, and possibly include a monthly stipend up to $5,000 per year. If you’re lucky enough to obtain such a scholarship, you are obligated to serve for four years. Should you not be a scholarship winner, but graduate from the ROTC advanced course, in which you’ve learned military tactics and gained experience in team organization, planning, and decision making, you will become a commissioned 2nd Lieutenant and must serve for 3 years.

Obviously, you’ll need to discuss the specifics of the officer’s training classes and commitments with your recruiter, but what ROTC does bring, is the opportunity to offset the expense of a college education, with the discipline of training for the armed services. Should you elect to take advantage of ROTC, you will graduate from college with the training to become a leader, and, that alone, makes this an appealing prospect.

ROTC 장학금

  • 등록금 비싼 USC를 다닐 수 있는 방법
  • Dickinson College’s ROTC program
  • ROTC 장학금을 얻는 방법

 USC 같은 대학이 등록금이 4만불이 넘는 상황에서 많은 학생들이 장학금, 그랜트, 근로봉사 등을 찾으려고 애를 쓰고 있다.  어떤 학생들은 엄청난 등록금을 감당하기 보다는 등록금, 숙식비, 의료까지 지원되는 군복무 대학(west Point, Annapolis, Air force)으로 가서 해결하려한다.   이 대학들에 대해서는 필자의 자료에서 찾을 수 있다 (http://www.ivycollegeprep.net/imported-20110121194859/2008/9/2/attending-us-service-academies.html. ).  그러나, 이 대학들은 수학이나 공학을 즐기지 않는 학생에게는 어렵다.  그대신 다른 대안은 전국 대학에서 가능하며, 모든 전공(인문학 전공까지)도 가능한 ROTC 장학금을 받는 것이다.

실제 군대에서는 전통적인 인문학분야인 외국어, 지역연구, 역사 전공자들을 찾고 있다.  한 예로 중동연구를 전공하고 아랍어에 능숙한 Dickinson 대학의 ROTC 프로그램의 졸업학생이 아프카니스탄의  카다하지역에 배치되어 코란암송 실력으로 부대를 텔레반 색출에 성공시킨 경우도 있다.  결론적으로 군에서는 인문학의 중요성을 이해하고 있다.  즉, 군에서는 ‘비평적 사고가’를 찾고 있고, 필요로 한다.

물론 ROTC 장학금을 얻기 위해 명문대에 다닐 필요는 없다.  먼저, 여러분이 군의 어느 분야에 관심이 있는지를 결정해야 한다.  다음, 고교의 진로센타나 온라인 (http://www.goarmy.com/rotc/find-schools.html)에서 써치를 시작해야 한다.  여러분이 가고 싶은 대학이 ROTC 프로그램이 없으면, 그 부근의 대학에서 찾으면 된다.  예를 들면, 예일대의 경우 4명의 학생이 현재 University of Connecticut의 이 프로그램에 참여하고 있다.  또한 고교의 진로센타에서 모집관의 이름도 알 수 있다.  다음,

  • SAT/ACT을 잘 보아라, 그러면, 장학금을 확보할 수 있다.
  • 만약 고교에 junior ROTC 가 있으면, 가입하라.  이 프로그램이 있는 Troy 고교는 이 프로그램 졸업생들이 대학 ROTC에도 진학하고 있다.
  • 건강을 유지하라(Sit ups 50번; pull ups 12번; 일주일에 3번 달리기)
  • 고교의 수준 높은 과목에서 좋은 점수를 받아라.  무엇보다 학습습관을 배워라.
  • 술을 비롯한 약물에 대한 오점을 남겨서는 안 된다.  바로 부자격자가 된다.

이러한 ROTC 에 가입하면 어떤 의무가 있는가?  군복무 대학(West Point)과 달리 바로 복무로 이어지지 않는다.   여러분이 어떤 ROTC 프로그램에 참여하는지에 따라서 다르다.  예를 들면, 2년, 3년, 4년의 장학금 종류가 있으며, 등록금, 숙식, 책, 월수당 (년, $5,000)까지 제공된다.  만약 이 장학금을 받으면, 4년 복무의무가 주어진다.  만약 이 장학금 수혜자가 아니면, 군기술을 배우고 팀조직 과 계획, 의사결정 등을 경험하는 이익이 있으며, a commissioned 2nd Lieutenant 가 되며, 3년간 복무해야 한다.

물론, 훈련과 의무에 대해 모집관과 상의해야 한다.  ROTC 프로그램이 대학비용을 절감하고 군 훈련의 기회를 갖는 것은 분명하다.  여러분이 ROTC 프로그램의 혜택을 누린다면, 리더로서의 훈련과 좋은 전망을 가지고 대학을 졸업할 수 있다.

The Financial Aid Award Appeal Process

  • Don Betterton, former Princeton financial aid officer, on appealing
  • Act quickly, there is little time
  • Financial Appeal
  • Competitive Appeal

Usually along with your offer of admission comes your financial aid letter. Some schools, like Cal Poly San Luis Obispo, however, send a link to have you log on to their financial aid site to view your financial aid package. Whether paper or digital, the key question is: does the financial package offered allow you to attend without incurring painful debt?

Last year, I had a number of students who were admitted into some of the top liberal arts colleges in the country: Reed, Whitman, Occidental, and Vassar among them; yet, their joy of being accepted was soon forgotten by financial aid packages that did not adequately address Need (as you might remember: Cost of Attendance (COA) – Effective Family Contribution (EFC) -which is calculated from the FAFSA form-= Need).

As an example, if you’re planning to attend Bryn Mawr, its COA is around $56,000; let’s assume your EFC is $17,000, then your ‘Need’ is $39,000. In its financial aid package Bryn Mawr offers you $19,000 in grants and scholarships and in loans $5,800. There is still a gap in your Need of: $39,000 - $24,800 = $14,200.  When you go to College Navigator, you notice that Bryn Mawr, in grants and scholarships, on average, awards around $27,000. You’re hoping that it might be more generous with your package. Since the Bryn Mawr website states that it will attempt to satisfy need ‘with a need-based Bryn Mawr grant’ you’re hoping that you might be able to obtain more aid. It’s time to engage in the financial aid appeal process.

Appealing a financial aid decision, or asking for ‘reconsideration of the original award,’ occurs often. Colleges usually hold back 10-15% of scholarship/grant monies in a reserve for appeals. Don Betterton, a former 30-year veteran Princeton financial aid officer, wrote an article on the appeal process, http://www.simpletuition.com/pay-for-college/plan/financial-aid-award/the-financial-aid-appeal-process/ ; well worth reading though many of its highlights follow.  

Rule number 1: get the appeal process in motion as quickly as possible. You need to be done before the May 1st deadline. The contact number is likely on the award document you received; call and ask politely (always be polite throughout the process) the procedures you need to follow. Sometimes issues can be handled by phone, though be prepared to send the office more information to validate your claims. Betterton, however, strongly suggests meeting, in person, with the financial aid department. Assuming that flying to Bryn Mawr is not possible, arrange to have a phone discussion with an aid officer, the higher ranking the better.

The word ‘negotiate’ is not popular among the financial aid officers (for obvious reasons); instead use a term such as ‘discuss’ or ‘clarify’. There are two kinds of appeals, financial and competitive.

Financial is the far more common. The appeal focuses on the need to reduce the EFC number. In short the school is too expensive and a family cannot incur ridiculous debt loads for their student to attend. In most cases a family will need to supply necessary supporting documents: income taxes, list of assets, special circumstances…anything that will sway the counselor to reduce the EFC.

The other is a competitive appeal. This is usually reserved for private schools. Public schools usually give their best offers up front: few have the resources to negotiate. Generally, the most selective schools have policies that allow them to counter competitive offers (and have the scholarship resources to compete). In all likelihood, the school you approach will want to see copies of the other schools’ financial award letters,

The financial aid office will never give you a worse financial package as a consequence of an appeal. If anything, you’re going to be better off, or the same as you were before you entered into the discussion. Furthermore, according to universitybusiness.com, ‘…the yield on admits who appeal is typically higher than the overall yield on the class.’ Your appeal, in other words, shows your strong interest in the school, and your interest in saving money. I can’t think of a better way to bond with your first choice college. 

The Financial Aid Award Appeal Process

재정보조상금에 대한 재고요청 절차

  • 전 Princeton 재정보조관(Don Betterton)의 설명
  • 서둘러라!
  • 재정 재고요청
  • 경쟁적 재고요청

보통 입학제의와 함께 재정보조 편지가 온다.  Cal Poly San Luis Obispo와 같은 대학은 재정보조 싸이트에서 여러분의 보조자료들을 볼 수 있도록 알려준다.  편지이든 링크이든, 중요한 질문이 있다: 재정보조가 빚지지않고 대학에 다닐 수 있게 해 주는가?

지난해 필자의 학생 중에서 명문 인문대학: Reed, Whitman, Occidental, Vassr 등에 입학허가된 여러 명의 학생들이 있었다.  그러나, 재정보조 정도가 필요(재학비용:COA-가족보조: EFC)=필요: FAFSA에서 계산됨)를 채울 수 없음을 깨닫고 기쁨도 잠깐 이었다고 한다.

예를 들면, 만약 Bryn Mawr에 진학한다면, COA는 $56,000이다.  여러분의 EFC 가 $17,000이라면, “필요”는 $39,000이다.  Bryn Mawr에서 $19,000을 그랜트와 장학금으로 대출로 $5,800을 제공한다면, $39,000-$24,800=$14,200 이다.  그러나, College Navigator에서 Bryn Mawr을 조사하면, 평균 재정보조는 $27,000이다.  그러므로 대학에 좀 더 요구할 수 있다.  Bryn Mawr대학에서도 ‘필요에 따른 Bryn Mawr 그랜트’를 제공한다고 웹싸이트에 나와있다.  그러므로 가능한 일이다.  이제 재정보조 재고 요청을 할 시간이다.

재정보조 결정에 재고를 요청하거나, ‘상금에 대한 재고’를 요청하는 일은 종종 있다.  대학들도 장학금의 10-15%를 재고요청에 대비해서 마련해 두고 있다.  Don Betterton (전 Princeton 30년 재정보조 베테랑)이 이 절차 (http://www.simpletuition.com/pay-for-college/plan/financial-aid-award/the-financial-aid-appeal-process/)를 밝히고 있는데, 읽을 가치가 있다.

규칙 1: 가능한한 빨리 액션을 취하라.  5월1일 전에 해야 한다.  어디로 연락을 취해야 하는지는 상에 나타나 있다.  전화를 한다면, 공손하게 (전 과정을 공손하게 해야 한다) 말해야 한다.  여러분의 정보를 확인하도록 해야 하지만, 전화라도 가능하다.  Betterton은 가능한한 직접 찾아가라고 권한다.  그러나 Bryn Mawr까지 날아가는 것이 불가능하면, 담당관과 전화로 하지만, 높은 위치의 담당자와 해야한다.

재정보조 담당관과 상의할 때 ‘협상’의 단어는 맞지가 않다, 분명한 이유가 있어야 하기 때문에.  그대신, ‘상의,’ ‘명확히하기’가 맞는 표현이다.  또한 두 종류의 재고요청이 있다: 재정과 경쟁.

먼저, 재정보조는 다반사이다.  재고요청은 EFC를 줄이는 것이다.  정말 대학이 너무 비싸고, 가족들이 이 모든 빚을 떠맡을 수는 없기 때문이다.  대부분 가족들은 필요한 자료들을 제공한다: 수입, 자산들, 특수 상황등등….하나라도 재정보조를 받아서 EFC를 낮출 수 있는 사항들.

다음은, 경쟁적 재고요청이다.  일반적으로 사립대학에 맞다.  공립대학은 보통 최대한으로 제공하므로 별로 재고를 요청할 여지가 없다.  대부분의 명문대학들은 경쟁적 제공(장학금 제공에서도 경쟁력을 가지려 한다)을 제시한다.  그래서 다른 대학에서 제공한다는 재정보조상금에 대하여 알고자 한다.

재정담당관이 재고요청 때문에 재정제공을 낮추는 일은 없다.  어쨌든 더 좋아지거나, 아니면, 그대로 이다.  더욱이, universitybusiness.com에 따르면, ‘….재고요청을 한 경우, 대부분은 평균보다 높은 수확이 있다.’  다시 말해, 여러분의 재고요청은 그 대학에 대한 강한 관심을 보이는 것이며, 돈을 아끼려는 느낌을 준다.  필자로서도 대학선택에 대한 강한 의지로 보여진다.

A Question of Financial Aid

  •         Using College Navigator to find Cost of Attending
  •         Using College Navigator to compare quality of your financial package
  •         A Word about Parent Plus Loans-Avoid

As your acceptances begin to pour in, it’s critical to review each school’s financial aid package. The best way of evaluating the offers is by placing them on a spreadsheet, or a big piece of paper, and writing down the following information for each of your schools:

Line 1: The Total Cost of Attending (tuition + room & board + books + any fees + any projected travel) [COA]

Line 2: Your Effective Family Contribution (calculated by the FAFSA form) [EFC]

Line 3: Your Need (calculated by: Line 1 – Line 2)

Line 4: The detailed financial package you’ve been offered.

The above is the fundamental financial aid formula. If you hate formulas, please read on anyway; the information might prove useful.

Now, let’s go line-by-line using Georgetown University as an example. Starting on Line 1, the cost of attending [COA], can be found in College Navigator, http://nces.ed.gov/collegenavigator/: type in ‘Georgetown,’ and click on the tab, “Tuition, Fees, and Estimated Student Expenses.” You’ll discover that tuition for 2010-2011 is $40,203, books and supplies $1,184, room & board $12,798, other fees $2,340, and, assuming you’re traveling from California to get there, possibly several times during the year, it’s safe to estimate travel costs at $2,100. The total COA for Georgetown is $58,625.

Line 2, effective family contribution, [EFC], is calculated from the information that you’ve entered on your FAFSA form. If you’re not yet a senior, you can estimate your EFC by going to finaid.org (http://www.finaid.org/calculators/scripts/estimate.cgi) or the College Board, and enter your information into its EFC calculator. Obviously, you want to have your EFC as low as possible.  For the sake of this example, let’s say your EFC is $17,000.

Line 3, your need, is calculated by subtracting line 2 from line 1. This amounts to $41,625.  Now you will see just how much of your ‘need’ has been covered by Georgetown. The good news is Georgetown is need blind and fully meets the need of US applicants. So let’s assume that Georgetown has offered you scholarships and grants amounting to $25,000 for freshman year, with the balance in work/study $2800, and loans, $13,825.  Staying in College Navigator, click on the tab, Financial Aid. You’ll find the number of students who received financial aid in 2010 is 910 students.  58% of the class received $26,794, in grants and scholarships, on average. Georgetown has given you a package that is pretty close, though you still can make a case for the additional $1,794. Now, on Georgetown’s need amount, there is no $2,100 in travel; you’ll have to negotiate with the financial aid office to get them to offset that cost. Subtracting those amounts from the $13,825, you’re now at $9,931. On College Navigator you’ll find that the average amount of student loan aid is $6,727. You’re only $3,204 apart.

A word about loans: If you must take out a loan you’ll want a federally subsidized Stafford loan or Perkins loan, if at all possible. These loans have low, fixed interest rates and the interest doesn’t start ticking until you’re finished with college (and can be delayed should you go on to graduate school).  Avoid Parent Plus loans no matter what the situation. Parent Plus is a full recourse loan (meaning the lender can get its money back anyway it sees fit, placing a lean on your house, garnishing your wages…), is not dischargeable, which means even if you declare bankruptcy the loan will not be dismissed and will continue accumulating interest and fees, and can potentially destroy your credit rating before you take one step into the workforce. (If you wish to learn more about the dangers of Student Loans please refer to Debt Free U by Zac Bissonnette, p. 61-97).

Congratulations, you’ve done a good job evaluating your Georgetown financial package. When negotiating your financial aid, treat it no differently than buying a car. You want to negotiate the lowest price possible through whatever grant and scholarship monies are available. Better still, you know they want you, after all they accepted you and they want the best yield (# students matriculating/# students accepted) percentage possible—it helps with their US News ranking. Negotiate hard, and go Hoyas.

재정 보조에 관하여

  •        College Navigator에서 학비 계산하기
  •        College Navigator에서 재정 보조 비교하기
  •        Parent Plus Loan 절대로 피해라

이제 합격의 소식이 들리기 시작하면, 재정 보조 제안을 비교 분석하는 것이 필수적이다.  가장 좋은 방법은 큰 종이나 계산 종이 위에 각 대학의 정보를 적는 일이다:

첫 줄: 재학 총 비용 (등록금+숙식비+책값+기타 비용+여행비)[COA]

둘째 줄: 가족이 댈 수 있는 금액(FAFSA양식에서 계산) )[EFC]

셋째 줄: 부족부분(첫줄-둘째줄)

넷째 줄: 제안받은 재정보조 제안

이것이 기본적인 재정 보조 공식이다.  이 공식이 맘에 안 들어도 끝까지 읽으면, 유용하다는 것을 알게 될 것이다.

먼저, Georgetown University를 예를 들어 한 줄씩 계산을 해보자.  첫 줄 계산을 위해 College Navigaor (http://nces.ed.gov/collegenavigator/)에서 COA를 계산하자.  ‘Georgetown’을 치고, “tuition, fees, and estimated student expenses”의 탭을 클릭하자.  그러면, 2010-2011년도의 등록금이 $40,203이고, 책과 학용품이 $1,184, 숙식비용이 $12,789, 다른 비용이 $2,340이다.  만약 캘리포니아에서 간다면, 년간 오고 가는 비용을 계산하면, 여행비용을 $2,100으로 잡고, 총 COA는 $58,625가 된다.

다음, 둘째 줄의 가족이 대는 비용 (EFC)를 계산하면, FAFSA에서 계산하거나, 졸업반이 아니면, finaid.org(http://www.finaid.org/calculators)나  College Board에 개인정보를 넣으면, 알 수 있다.  최소한의 EFC를 계산하는데, 대략, $17,000이라고 하자.

셋째 줄의 필요부분은 첫 줄에서 둘째 줄을 빼면, $41,625가 된다.  이 금액을 어떻게 대학이 제공할지를 살펴보자.  좋은 소식은 Georgetown은 이유를 따지지 않고 미국 응시자에게 보조를 한다는 사실이다.  그래서 대학이 $25,000을 장학금과 그랜트로 준다고 하자. 그리고나서 work/study로 $2,800을 받고, 대출을 $13,825를 받는다면 해결이 된다.  College Navigator에서 Financial Aid를 찾으면, 2010년도에 910명의 학생들이 재정보조를 받았음을 알 수 있다.  58%의 학생이 평균 $26,794를 장학금과 그랜트로 받았다.  여러분도 이런 제의를 받는다면, $1,794만이 부족이다.  그러나 Georgetown은 여행을 위한 $2,100에 대한 보조는 없다.  이제 여러분은 재정담당을 찾아가서 협상을 해야 한다.  그래서 해결이 되면, 이제 $13,825에서 빼면, $9,931만 남는다.  College Navigator을 보면, 평균 학생대출보조는 $6,727이다.  그러면, 이제 $3,204만 남아있다.

대출에 대한 한마디: 대출을 받아야 한다면, Stafford나 Perkins 론을 받도록 해야 한다.  이 대출은 이자율이 낮고, 고정되어 있고, 대학을 마칠 때까지 이자율이 오르지 않는다(대학원을 간다면, 더 연기된다).  어떤 상황에서라도 Parent Plus 대출은 피해야 한다.  이 대출은 상환대출 (반드시 갚아야 하며, 주택에 차압이나 월급의 차압도 가능하다)이고, 피할 수 없고, 파산을 선고해도 이자율도 계속 올라가고 직장을 시작하기도 전에 여러분의 크레딧을 잃게 한다 (만약 이 위험에 대해 더 자세히 알고 싶다면, Zac Bissonnette의 Debt Free U 의 P. 61-97참고바람).

여러분이 Georgetown의 재정보조를 잘 평가해보았다면, 축하를 보낸다.  이것은 여러분이 차를 살 때와 다르지 않다는 것을 명심해야 한다.  그랜트와 장학금으로 최대한 낮은 비용을 내도록 협상해야 한다.  도한 일단 입학제안을 받으면, 대학이 좋은 입학률을 위해 US News의 등급에 필요하기 때문) 여러분을 필요로 한다는 사실을 염두에 두고 협상에 임해야 한다.  잘 협상하여 Georgetown 재학생이 되길 바란다.

 

Searching for Scholarships

  • Types of Scholarships available
  • Best Scholarship Search Tools
  • Search Systematically
There’s something almost magical about hunting for scholarships. When you find scholarship listings and start adding up the numbers, it evokes the feeling of winning the lottery: $10,000 for writing an Isaac Newton essay or $2,500 for listing community service projects. It’s all very alluring, but don’t let the potential sums distract you from the realities of gaining scholarships. Playing the scholarship game requires a plan, a bit of self-knowledge, and a firm grasp of reality. Scholarships represent a nice source of money for college. The best aspect of scholarships is they’re like grants; they don’t have to be repaid. Be aware, however, that some schools, especially the most selective, might deduct scholarship winnings from grants offered.  Such possibilities make it essential to do a bit of investigation before you go on your scholarship hunt. Know the colleges you’re applying to and how they handle financial aid issues. Some of this might be gleaned from College Navigator’s financial aid section; some from the school’s website, but the real facts come by asking the admissions office directly or, better still, from a scholarship student in the previous year’s class. Next, it’s a good idea to have a general understanding of what type of scholarships are available. There are school specific scholarships. Don’t hesitate to apply for these while you’re in the application stage; if you wait till after your application is sent in, you’ll be too late. Then there are slews of private scholarships from companies, private donors, and a rash of others, which reward students for everything from academics and leadership to heritage and hobbies, to having the last name of Brown.  There are also scholarships awarded for essays and research. These are the broad range of scholarship categories most students consider. (Note, athletic scholarships are a category unto themselves requiring a separate column altogether.) This mish mash of potential sources of college scholarships immediately brings up the question of where and how can you find and obtain scholarships. School specific scholarships that are merit-based can be found at a new website www.meritaid.com; naturally, it’s always a good idea to search for scholarships at the website of each school of interest. The criteria for school specific scholarships run the gamut from academic performance to talent. Your chances improve, in many cases, if you apply with a strong transcript and test scores. Additionally, when applying, find out if the scholarship is renewable annually. Many scholarships are offered to help students achieve their goals. Consequently, you need to consider and review your own goals, take an inventory of your skills and accomplishments, and clearly consider your background. In particular think about your church, family, and even your physical characteristics (believe it or not, there are scholarships for everything from being a twin, to being taller than 6’1”). The best place to start your scholarship search is in your high school counseling office (it usually is the first place scholarship notifications are received and posted.)  Others include the employers of your parents, or relatives, churches, service organizations (such as the Chamber of Commerce or Kiwanis Club), and on-line sites. Probably the best known on-line sites are Fast Web (www.fastweb.com), Financial Aid (www.finaid.com), and College Scholarships (www.collegescholarships.org). Fast Web alone will supply you with a steady stream of prospective scholarship leads once you’re registered. Lastly, there is a cardinal rule in the pursuit and selection of scholarships: never pay a fee for applying. The trick is to find a set of scholarships that have potential, pull together your resources (essays, personal references, transcripts), and make sure you present yourself appropriately (have a decent email address, and hide your Facebook and Myspace profiles from public view). For an impactful scholarship effort, applying for 20 or more scholarships is a good idea; after all, once you assemble all the necessary resources, you want to use them to greatest effect. Gaining scholarships is hard work, planning, and effort. A systematic approach, as with most things, brings the best prospects for success. Ralph Becker Founder, Ivy College Prep LLC -------------------------------------- 장학금을 찾자
  • 여러 유형의 장학금들
  • 찾는 방법들
  • 체계적으로 조사하기
장학금을 사냥할 때는 마술에 가까운 어떤 것이 있다.  여러분이 장학금 목록을 발견하고 그 금액을 더할 때는 마치 복권에 당첨이라도 된 기분이 든다: Isaac Newton 에세이에 만불, community service project에 2,500불.  매우 유혹적이다.  그러나 총액에 마음을 빼앗겨 장학금 획득을 위한 현실을 깨닫지 못해서는 안 된다.  장학금 게임에는 계획, 지식, 그리고 현실감이 필요하다. 장학금은 대학을 위한 자금줄이다.  가장 좋은 종류는 그랜트이다:  갚을 필요가 없다.  그러나, 대부분의 명문대들은 장학금 액수에서 그랜트를 제외하기도 한다.  그러므로 장학금을 사냥할 때, 이런 가능성을 미리 알아보는 것이 좋다.  대학측에 여러분이 재정보조 문제를 어떻게 할 것인지를 미리 알려라.  College Navigator의 재정보조 부문에서 정보를 수집하거나, 학교의 웹싸이트를 참고한다.  한편, 입학부서에 직접 문의하거나 전년도 장학금 수혜자에게 문의하는 것도 효과적이다. 다음, 어떤 종류의 장학금을 이용할 수 있는 알아두어야 한다.  학교마다 특정한 장학금이 있다.  응시할 때부터 문의해 두는 것을 망설일 필요없다; 아니면 신청하기에 늦을 수 있다.  회사나 개인기부자, 혹은 단체 에서 주는 학업우수자, 리더쉽, 혈통, 취미, 혹은 Brown 성을 가진 학생에게 주는 것 등 다양하다.  또한 에세이나 연구에 주는 것도 있다.  이러한 종류들은 대부분의 모든 학생들에게 해당된다(운동선수에게 주는 장학금은 별도이다).  이러한 여러 장학금을 어디에서 어떻게 찾고 받을 수 있는지 의문이 떠오를 것이다. 학교마다 상의 성격을 띤 장학금을 새 웹싸이트에서 찾을 수 있다.  학교 장학금에 대해서는 학교 웹싸이트를 찾는 것이 좋은 생각이다.  학교의 특정 장학금 선발의 기준은 학업성적에서부터 특기까지 다양하다.  만약 성적과 시험성적이 우수하다면, 많은 경우에 기회는 상당히 높다.  또한 장학금을 신청할 때 매년 신청할 수 있는지도 알아두는 것이 좋다. 많은 장학금들이 학생들의 목표달성을 돕고자 한다.  그러므로 여러분은 여러분의 목표를 점검하고 본인의 기능의 목록과 업적을 살피고 점검할 필요가 있다.  특히, 교회, 가족, 신체조건도 생각해보라(믿지 않을지라도, 쌍둥이, 6’1”이상의 키에 대한 장학금도 있다). 장학금 찾기를 시작하려면, 먼저 고교의 상담 사무실에서 시작하라(이곳이 장학금 공고가 처음 되는 곳이다).  또한 부모님 직장, 친척, 교회, 사회단체(예: Chamber of Commerce, Kiwanis Club)를 고려하고, 온라인 싸이트를 찾아보라.  가장 유명한 곳은 Fast Web (www.fastweb.com), Financial Aid (www.finaid.com), and College Scholarships (www.collegescholarships.org) 이다.  Fast Web은 한번 등록하면 계속 정보를 제공해준다.  끝으로 장학금을 찾고 선택할 때 기본 규칙이 있다: 절대로 응시료를 내지말라. 장학금을 찾기 위한 재주는 여러분의 자료(에세이, 추천서, 성적표)를 모아두고, 자신에 대해서는 적절히 소개하도록 한다(이메일 주소마련, Facebook, Myspace의 개인정보는 감추는 것이 좋다).  이러한 노력을 쓸 때 20개 이상을 하는 것이 좋다; 일단 모든 필요한 자료를 모아두면, 언제든지 아무리 많은 숫자도 응시할 수 있다.  장학금을 받는 것은 힘든 일이며, 계획을 세워야 하고 노력을 들여야 한다.  대부분의 일에서와 마찬가지로 체계적인 접근으로 성공을 위한 최상을 결과를 가져올 수 있다.

"Need Blind Admissions" and the Financial Aid Process

  • Levels of "Need-Blind" Admissions
  • Explanation of the Financial Aid Process
One part of the admissions process that confuses many students and their families is dealing with financial aid. Some students are concerned that their application will be penalized if it appears that they are seeking financial aid. If this is a worry, they should review whether their target schools practice 'need blind' admissions in one form or another. In addition, there are other students who are challenged by the affordability of college and who actually want financial aid. Both sets of students will find this article useful. Some schools practice 'need blind' admissions. They ensure that the admissions office and the financial aid office do not share information. Even if information regarding your family's finances can be gleaned from your application, such information is not considered when your application is under review. Not many schools, however, have a truly 'need blind' admissions policy. It takes a lot of money to perform the second part of the need-blind requirement: should they accept you, they're guaranteeing that they'll pull together a financial aid package that will allow you to attend their school. The forty-one schools that do fulfill this requirement are listed in Wikipedia: http://en.wikipedia.org/wiki/Need-blind_admission , and include Harvard, Stanford, Cal Tech, Claremont McKenna, and Northwestern. Eight of these 41 schools are 'need-blind' for international applicants as well. Some schools are 'need sensitive.' Most applicants are evaluated on a 'need blind' basis. Only their borderline applicants-those off the waiting list, or who appear to be less competitive within the applicant pool, are considered in light of their financial resources. Such schools as Smith College or Hamilton College (upstate New York) are 'need sensitive.' Other schools practice 'need blind' admissions, but cannot guarantee they'll meet a 100% of a student's financial needs. A recent report from the National Association for College Admission Counseling, found that 93% of public institutions and 81% of private institutions claim "they are entirely need-blind." ("Need Blind, but Gapping", Inside Higher Ed.com by Scott Jaschik 26 November 2008). When asked if this meant that they'd meet the full financial needs of those admitted, their numbers dropped to 32% of public, and 18% of private schools. Confused? Join the club; that's the natural state when attempting to decrypt the machinations of the world of financial aid and admissions.  Such schools as Tufts have attempted to become 'need-blind' over the last years, but haven't successfully raised the funds required to become a full practitioner. If you elect to apply for financial aid, the first step is to submit a FAFSA form to the admissions offices of your schools (which you should do as early in January as possible-so if you haven't done this, and you're angling for admission this fall, go to the following site to get the information and file as soon as possible,  http://studentaid.ed.gov/students/attachments/siteresources/FundingEduBeyondHighSchool_0809.pdf ), and if it's a private school, you might need to also submit a CSS Profile form. Once received, the admissions office will make the calculations and determine your EFC (effective family contribution), and then determine what type of aid will be offered to you. There are three types of aid available: grants (the more of these you get the better, as you don't have to pay them back), loans (the less of these, the better), and work study (payment for working part time on campus). Should you gain acceptance to a school, but the school cannot pull together a financial package that addresses 100% of your financial needs, then you've been 'gapped'. You'll have to address the difference between your needs and the offered financial package by acquiring more loans (not necessarily an easy or pleasant task in these financially challenging times), negotiating with the admissions office for a better financial aid package, or selecting a different school. The key to gaining an upper hand on the financial aid process is to make sure you select schools that are a good fit. If, in your application, it is apparent to the admissions office you are special (e.g. strong academics or talent), they'll find the resources no matter how difficult the economic times might be. Ralph Becker Founder, Ivy College Prep LLC -------------------------------------- 재정 필요 무시입학사정과 재정보조 과정
  • 재정 필요 무시 수준
  • 재정 보조 사정절차
입학사정 과정에 있어서 많은 학생들과 학부모들이 잘못 이해하고 있는 부분이 재정보조 신청에 관한 점이다.  어떤 학생들은 만약 재정 보조를 신청하면 원서에 불이익을 초래할 까 염려한다.  이 점이 걱정이 된다면, 목표 대학들이 ‘need blind’(재정필요 무시) 입학사정을 하는 지를 살펴보아야 한다.  또한 어떤 다른 학생은 대학의 재정 여유를 알아보고 재정보조를 필요로 할 수 있다.  이 두 경우 모두 이 기사가 도움이 될 것이다. 어떤 대학들은 ‘재정필요 무시’의 입학사정을 실시한다.  즉 입학사정실과 재정보조 사무실은 서로 정보를 나누지 않는다.  비록 가족 소득 정도를 원서에서 알아볼 수 있지만, 이러한 내용은 원서 사정에는 영향을 미치지 않는다. 한편, 진정한 의미의 ‘재정필요 무시’ 입학사정 정책을 하는 대학들은 많지 않다.  이 정책의 실행에는 많은 돈이 들기 때문이다:  만약 이에 따라 학생을 받아들이면, 학생이 학교에 다니도록 재정보조 프로그램을 보장해 주어야 하기 때문이다. Wikipedia: http://en.wikipedia.org/wiki/Need-blind_admission에 나와있는 이러한 대학들은 41개 대학으로, Harvard, Stanford, Cal Tech, Claremont McKenna, and Northwestern 등이 있다.  이중에는 외국 학생에게도 같은 정책을 실시하는 8 대학들이 있다. 어떤 대학들은 재정 필요에 민감하다.  대부분의 학생들은 ‘재정필요 무시’로 뽑지만, 경계선상에 있는 학생들-대기명단, 원서집단에서 경쟁력이 떨어지는 학생-에게는 재정 수단이 고려된다.  이러한 학교로는Smith College or Hamilton College (upstate New York) 로 재정필요에 민감하다. 다른 여러 대학들은 ‘재정필요 무시’ 입학사정을 원칙으로 하나, 100%를 보장하지 못한다.  National Association for College Admission Counseling의 보고에 따르면, 93%의 공립대학들과 81%의 사립대학들이 ‘전적으로 재정필요 무시’라고 주장한다(“Need Blind, but Gapping”, Inside Higher Ed.com by Scott Jaschik 26 November 2008).  그러나, 입학생들의 재정 필요를 충분히 채울 수 있는 비율을 보면, 공립은 32%로, 사립은 18%로 떨어진다.  혼란스러운가?  이러한 현실은 재정보조와 입학의 비밀의 암호를 풀어야 하는 것이기 때문이다.  Tufts 대학은 최근까지 ‘재정보조 무시’를 실행했으나, 자금을 확보하지 못해 성공적으로 시행하지 못하고 있다. 재정 보조를 신청하는 첫 단계는 FAFSA를 작성하는 것이다(가능한 1월에 해야만 가을에 보조를 받을 수 있다). http://studentaid.ed.gov/students/attachments/siteresources/FundingEduBeyondHighSchool_0809.pdf 만약 사립학교라면, CSS Profile 을 제출해야 한다.  그래야만 학교당국은 여러분의 EFC(학부모 부담금)를 계산하고, 보조 유형을 결정짓는다.  재정 보조 형태는 3가지가 있다: 그랜트(갚지 않음), 론 (적게 받아야 함), 근로장학금(교내에서 일해야함). 여러분이 입학이 되었으나, 100%의 재정 보조를 받을 수 없다면, 여러분은 ‘빈 공간’을 갖게 된다.  이때 여러분은 여러분의 필요와 학자금 융자액의 차이에 직면해야 한다(불경기인 이때 쉬운 일이 아님).  더 좋은 재정 보조 프로그램을 찾든지, 다른 학교를 선택해야 한다. 재정 보조 과정에서 우위를 차지하는 열쇠는 여러분이 택한 대학에서 필요로 하는 학생임을 보여야 한다.  만약 원서에서 여러분이 특별한 점(강한 학업, 탤런트)이 분명하다면, 학교당국은 경제상황과 별도로 재정 보조를 지원할 것이다.

Dealing with the Costs of College

  • The Art of Leveraging your application
  • Don't hesitate to negotiate financial aid packages with colleges that have accepted you
Tuitions are slated to rise over the next years as public schools feel the pressure of state government belt tightening, and private schools encounter a drop off of funds. One remedy might be to apply to the service academies , which will cover all your costs and pay you a monthly stipend, or attend tuition-free schools (with some, such as Deep Springs, actually picking up all costs) .  Or, if you're lucky enough to gain admission to the most selective schools, you might find some incredible blue light specials: Stanford is eliminating tuition completely for students from families earning less than $100,000; Dartmouth & MIT are eliminating tuition for students from families earning less than $75,000; Harvard is implementing a descending payment scale for families earning less than $180,000. For families earning between $120,000 and 180,000, only 10% of their income will be paid to cover tuition; under $60,000, the family pays nothing. If, however, these alternatives do not fit into your college plans, don't despair. Now is a good time to start thinking about how you're going to leverage your application in the world of financial aid. No matter where you are in high school, there is one cardinal rule: get the best grades possible, and study for your standardized tests. Many schools, such as University of Nevada, Reno, award scholarships based on combinations of high standardized scores and GPAs. The higher your grades and test scores, the more options you will have to leverage your application Next, you need to apply to a lot of schools.  Look hard for schools where there might be a shortage of candidates with your type of qualities. If the school needs male trombone players, and it's a school of interest, get your application in.  Don't fall in love with one school and decide that you're going to apply Early Decision: if you do get in, your efforts to secure grants will be hampered. The admissions office does not have to negotiate very hard with you. It will, of course, give you enough to make attending affordable (or you can withdraw from the commitment), but the word 'affordable' has many definitions. Next, determine the total cost of attending each school on your list. One quick way to do this is to use College Navigator (https://nces.ed.gov/collegenavigator/), which contains 'estimated student expenses' and detailed financial aid information. Knowing your student expenses, you then deduct your grants and scholarships to determine your out-of-pocket expenses. You also need to know, should you be offered any scholarships, what are the requirements to get them renewed for each year you attend. Some schools offer substantial grants for freshman year. Once in, however, the renewal of these scholarships sometimes becomes extremely difficult. Also be aware of how long it will take to get your degree. For example, if you're attending Cal Poly San Luis Obispo, and planning to study engineering, in all likelihood it's going to take 5-6 years to get your degree, not the standard 4. Again, you can find out about retention and graduation rates on College Navigator. This fact needs to be considered when negotiating your financial aid package with the admissions office. The key to this exercise is to get a mix of colleges interested in your application. You want them to feel the heat of competition. Then, you want to compare their offers. Sure, Yale's director of student financial services, Caesar Storlazzi, will tell you Yale, "does not match awards from other schools." Yet, if you've been accepted, Yale wants you. Consequently, Mr. Storlazzi adds, "(after) seeing the copy of an award from another school (it) often enables us to review the Yale 'needs analysis' and ask questions of the family to help us in reviewing our calculation of the parents' contribution." (US News and World Report, September 7, 2007, "How to Leverage Your Aid" by Kim Clark)   In other words, they're ready to play ball. Ralph Becker Founder, Ivy College Prep LLC -------------------------------------- 대학 학자금 다루는 방법
  • 대학원서 활용의 예술
  • 입학된 대학과 재정보조 협상을 주저하지 말라
대학 등록금이 공립은 주정부의 재정압박으로 사립대학은 기금의 삭감으로 앞으로 몇 년간 계속 올라갈 것이다.  한가지 처방은 군복무 학교에 지원하는 것으로, 학비와 월 생활비까지 보장받는다.  아니면, 등록금-무료 대학(Deep Springs 대학에서는 모든 비용이 무료)에 다니는 것이다.  아니며, 운좋게도 명문대학에 입학하는 길이다.  아래의 명문대학들은 믿을 수 없는 밝은 빛을 비추어 준다: Stanford는 연소득 10만불이하의 가정의 자녀의 학비무료: Dartmouth & MIT에서는 연소득 7만5천불 이하의 가정의 자녀 학비무료; Harvard에서는 연소득 18만 이하의 가정의 학비를 비율로 삭감, 즉 12만에서 18만 소득 가정은 수입의 10%를 학비로 내지만, 6만이하의 가정은 전혀 학비를 내지않는다. 한편, 위와 같은 대안들이 여러분의 대학 계획에 들어있지 않더라도 너무 실망할 필요는 없다.  이제부터 재정보조를 위하여 여러분의 원서를 어떻게 활용할 것인지 생각해야 할 시기이다.  어느 고교에 재학 중이든지 한가지 주요한 규칙이 있다: 가능한한 좋은 학점을 받기와 표준고사 시험준비이다.  많은 대학들 (예: University of Nevada, Reno)은 학점과 시험성적을 합하여 장학금을 준다.  학점과 시험점수가 높으면 높을수록, 학자금을 받아낼 수 있는 선택은 많아진다. 다음, 많은 대학에 응시할 필요가 있다.  여러분과 같은 자질을 가진 응시자가 적은 학교를 애써서 찾아라.  만약 대학이 남자 트롬본주자를 필요로 하는데, 여러분이 맞다면, 원서를 넣어라.  한 학교에 집착해서 얼리 디시젼으로 응시하지 말아라: 합격이 되면, 그랜트를 받으려는 여러분의 노력은 무산될 수 있다.  이때, 입학사정실은 여러분과 협상할 필요가 없다.  물론 여러분이 대학을 다닐 수 있도록 도울 수 있지만, 돕는다는 의미도 다양하다. 다음, 여러분의 리스트에 있는 각 대학의 전체 비용을 계산하여라.  알아보는 빠른 방법은 College Navigator(https://nces.ed.gov/collegenavigator/)이다.  대학에 드는 재정보조 정보와 ‘평균 학생비용’이 나와있다.  전체 비용을 알고서 그랜트와 장학금을 제하면 개인 지불비용을 알 수 있다.  또한 만약 여러분이 장학금을 받게되었다면, 매년 받기위한 자격도 미리 알아두는 것이 유용하다.  그러나 한번 받으면, 계속 받기란 매우 어렵다. 또한 학위를 받는데 걸리는 시간을 염두에 두어야 한다.  예를 들면, Cal Poly, San Luis Obispo에서 공학을 공부한다면, 4년이 아닌 적어도 5-6년은 걸릴 것이다.  College Navigator에서 재학과 졸업률을 알아 볼 수 있다.  이런 사실도 재정문제와 더불어 고려되어야 한다. 이런 과정의 열쇠는 대학이 여러분의 원서에 흥미를 갖게 하는 것이다.  여러분이 대학이 경쟁을 느끼게 만들 수도 있다.  그 다음 각 대학들이 제공하는 장학금을 비교하는 것이다.  Yale대학의 학생재정담당관인, Caesar Storlazzi는 ‘다른 대학에서 제공하는 장학금과 상응하는 상이 없음’이라고 할 수 있다.  그러나, 여러분이 합격되었다면, 예일대에서는 여러분을 원한다.  그래서 Mr. Storlazzi는 “다른 대학이 제공하는 장학금을 살펴보고, 경제지원 ‘필요성 분석’을 위하여 가정환경을 분석하고 부모님의 재정능력을 고려할 수 있다”고 덧붙였다.  다시 말해, 여러분은 게임을 할 준비를 해야 한다.